(RTTNews) - Great-West Lifeco (GWO.TO) has received approval from the Toronto Stock Exchange to renew its Normal Course Issuer Bid, allowing the insurer to buy back up to 20 million common shares, representing about 2.2 percent of its outstanding stock as of December 23, 2025.
The renewed program will run from January 6, 2026, to January 5, 2027, or until the company completes the permitted purchases. Based on recent trading volumes, daily repurchases will generally be capped at 497,497 shares, with limited exceptions for block trades. All shares repurchased will be cancelled, with the pace and timing of purchases determined by management in line with TSX rules and applicable law.
The board said the program is an efficient use of capital and will help offset dilution from share-based compensation while supporting broader capital management objectives. Under its previous NCIB, Lifeco bought more than 28 million shares at an average price of $57.01.
The company also plans to implement an automatic purchase plan with a designated broker, enabling repurchases during blackout periods or other restricted times, subject to preset parameters and regulatory guidelines.
In addition, Lifeco has received a TSX exemption permitting it to buy shares from its majority shareholder, Power Financial Corporation, and its subsidiaries, to help maintain Power's proportionate ownership. Power currently holds nearly 69 percent of Lifeco's outstanding shares. Any such purchases will be executed through special trading sessions, and the total NCIB limit will be reduced by the number of shares acquired from Power.
GWO.TO currently trades at $67.51 or 0.27% lower on the Toronto Stock Exchange.
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